Matrix Service Company Stock Forecast
Matrix Service Company stock price ended at $11.74 on Friday, after gaining 1.47%.
(Updated on May 03, 2024)
The Matrix Service Company stock price gained 1.47% on the last trading day (Friday, 3rd May 2024), rising from $11.57 to $11.74. During the last trading day the stock fluctuated 4.17% from a day low at $11.51 to a day high of $11.99. The price has fallen in 6 of the last 10 days but is still up by 1.12% over the past 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 100 thousand shares were bought and sold for approximately $1.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.95% during the next 3 months and, with a 90% probability hold a price between $9.84 and $14.12 at the end of this 3-month period.
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MTRX Signals & Forecast
There are mixed signals in the stock today. The Matrix Service Company stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $12.39. On a fall, the stock will find some support from the short-term average at $11.48. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -12.19%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Matrix Service Company stock
Matrix Service Company finds support from accumulated volume at $11.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.480 between high and low, or 4.17%. For the last week the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MTRX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Matrix Service Company to open at $11.75, and during the day (based on 14 day Average True Range), to move between $11.32 and $12.16, which gives a possible trading interval of +/-$0.422 (+/-3.59%) up or down from last closing price. If Matrix Service Company takes out the full calculated possible swing range there will be an estimated 7.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.61 (1.11%) than the resistance at $12.31 (4.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Matrix Service Company will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is -$0.130. We will update the financials statements for Matrix Service Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.47% in the first trading day after earnings release.
Is Matrix Service Company stock A Buy?
Matrix Service Company holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.704 Sell Candidate Unchanged
Predicted Opening Price for Matrix Service Company of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $11.75 ( 0.0568%) | $11.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MTRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.23 | 4.15 % | |
| R2 | 12.04 | 2.58 % | ||
| R1 | 11.93 | 1.62 % | ||
| Current price: | 11.74 | |||
| Support | S1 | 11.56 | -1.51 % | |
| S2 | 11.45 | -2.47 % | ||
| S3 | 11.27 | -4.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.22 | 12.61 % | |
| R2 | 12.34 | 5.11 % | ||
| R1 | 12.31 | 4.86 % | ||
| Current price | 11.74 | |||
| Support | S1 | 11.61 | -1.11% | |
| S2 | 11.34 | -3.41% | ||
| S3 | 9.21 | -21.55% |
FAQ
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